What Are the Best Merchant Account Providers for Online Businesses?

What Are the Best Merchant Account Providers for Online Businesses

What Are the Best Merchant Account Providers for Online Businesses?

It has become a need for the hours businesses take their operation online. It offers various benefits to the businesses and the customers to sell and buy the products or services. Starting up with an online business requires many things, including a website, merchant account, payment processor, and payment gateway. Online businesses sync with these requirements for smooth, safe, and secure business transactions. Generally, businesses can get the best website, but choosing the right merchant account provider can be daunting. 

Need To Choose The Merchant Account Provider

Merchant services allow businesses to integrate payment processing through credit cards. The merchant service provider is essential whether you accept the payment online or over the mobile phone, for the in-store customers to online customers, or accept payment in high-volume. It helps in a smooth transaction with security to enhance the customer experience and merchant’s credibility. 

Choosing The Best Merchant Account Provider

These days, most merchants take their businesses online to improve their sales and growth of the business. Therefore, it becomes crucial to choose the best merchant account provider. Working with the best merchant account provider or a payment processing company with transparent pricing, competitive rates, and no application fees. Keeping these things in mind, you can search for the best high-risk merchant account provider and the payment gateways to find the best option for your business. 

Top Recommendations For The Merchant Account Providers

Check out here the top recommendations for the merchant account providers for all the types of businesses, including the low-risk and high-risk businesses:

  • Stax: It offers a versatile solution for payment processing to a wide range of businesses. Stax allows the merchants to accept payments from clients and customers, including in-person, mobile, or eCommerce. Stax easily handles all the methods of payments at different price plans. Some plans unlock amazing features, including sending an invoice to the customers, storing payment information, using Stax API, and improving analytics to enhance the eCommerce experience.
  • National Process Merchant Solution: If you are looking for a fixed transaction rate, National Process Merchant Solution is the best merchant account provider. Its interchange-plus rates are lower than the competitors.
  • Merchants also get the rate-lock guarantee which means that the fees will remain the same throughout the contract. Small businesses and eCommerce service providers need a transparent merchant account provider about the transaction process and fees. National Process Merchant Solution, however, charges the PCI compliance fee to provide enhanced security to their merchant account holder.
  • PayPal: PayPal is a well-known name in the payment processing industry. It is the leading merchant account provider for online and eCommerce businesses. PayPal takes care of the fraud and gives a great experience to the merchants to carry out online businesses. It provides a virtual terminal to allow the merchants great flexibility and let them easily track the transactions and related activities. 

What Are the Best Merchant Account Providers for Online Businesses?

What Are the Best Merchant Account Providers for Online Businesses?
  • Flagship Merchant Services: The first company offered a free account set up for the merchants without charging any application or fees. Flagship offers Authorise.net to process and integrate an online cart into your website for eCommerce. It also provides a dedicated accounts manager to ease accessibility to the merchants and help them tackle the problem related to operating the merchant account.
  • Stripe: Stripe is a payment processor that offers sophisticated software and API, making it ideal for online businesses. It provides customized checkout solutions for online businesses and supports different types of payments. Also, it accepts payment through ACH, e-check payment, Apple Pay, GooglePay, etc. Merchant account holders can also configure subscription, one-time bill payment, recurring billing, and other checkout needs. 
  • Authorise.net: One of the best high-risk merchant account providers for eCommerce businesses. It optimizes the response time and reduces the data security risks. Another feature of this merchant account provider is that it enables the merchants to accept international transactions from the customers. It has a direct connection with the card brand networks, which enhances the security of the transactions. Like the other eCommerce Merchants, this merchant account provider includes major credit cards, e-Cards, debit cards, and digital payment solutions.
  • Cybersource: if you are focused on a worldwide online business, Cybersource is the best merchant account provider. In addition to providing safe payment processing solutions, it improves business agility, controls fraud risks, and improves your online business sales. Reaching the international market with the help of Cybersource is not a big deal as it has a processing network of more than $350 billion. It provides flexibility to the merchants to quickly respond to the changing market conditions.

Find The Best Merchant Account Providers

You should consider certain factors for finding the best merchant account providers for your online businesses. Finding the right merchant account provider ensures the merchants offer smooth and secure payment processing solutions for their businesses. Apart from your specific needs, the factors that you should consider finding the best merchant account provider are: 

  • Services: Merchant service providers offer your business a wide range of payment solutions. Most merchant service providers offer credit card processing, POS, virtual terminal, eCommerce services, hardware, and mobile payment solutions. But not all processors provide the same services. Therefore, you should consider your needs and match them to the services offered by the service provider. 
What Are the Best Merchant Account Providers for Online Businesses?
  • Processing Volume: The payment processing rate depends on the volume of transactions. High-volume merchants usually have to pay low processing fees while the merchants process low-volume transactions in a month. Before choosing the merchant account provider, evaluate the processing volume to access the rock-bottom processing rate.
  • Processing Rate: The cost of processing can add up quickly. Therefore, you need to find a cost-effective solution for merchant payment processing. Flat-rate processing is the best solution for small businesses as it provides a straightforward solution to the business. Some Merchant Account Providers offer monthly membership to access the lowest processing rate. Look for the providers that accommodate Level 2 and Level 3 card data. It is another way through which merchants can keep their rates low. 

Considering these factors help the merchants to find the best merchant account providers for their online businesses.

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Conclusion

Due to the rise in the online business, many merchants now look for the best merchant account providers. It allows them to integrate secure cashless payment solutions to improve the online customer base and their experience to shop online. Stax, National Process Merchant Solution, PayPal, Flagship Merchant Services, and Stripe are the top merchant account providers for online or eCommerce businesses. You can consider their processing rate, processing volume, and the services it offers to get the best Merchant Account provider for your business.

What Are the Best Merchant Account Providers for Online Businesses?

What Are the Best Merchant Account Providers for Online Businesses?

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